The Department of Labor (“DOL”) issued proposed regulations (the “Proposal”) on October 22, 2018, that represent the first major step in changing its restrictions on multiple employer plans (“MEPs”). However, it is just the first step, and does not change the landscape for Open MEPs. The Proposal was issued in response to the President’s August […]

On September 28, 2018, the IRS issued Revenue Procedure 2018-52, the latest version of the Employee Plans Compliance Resolution System (“EPCRS”), the IRS’s comprehensive procedures for correcting retirement plan errors. Using this procedure, retirement plan sponsors may fix mistakes in their qualified plans, 403(b) plans, 403(a) retirement annuities, SEPs, and SIMPLEs. Although they are not […]

The last few years have seen several changes in the rollover rules. With that in mind, the IRS just released new safe harbor special tax notices under Internal Revenue Code (Code) §402(f) for plans to use with distribution packages. For those who relish “IRS-speak,” the release is in Notice 2018-74. The IRS issued the last […]

The IRS just released the cost of living adjustments for various retirement plan limitations that will take effect on January 1, 2018. Many of the limits will be increasing for 2018. The Consumer Price Index, on which these limits are based, went up 2.2% during the prior twelve months. The key limits that increased (shown […]

Studying For ASPPA’s DC-1 Exam? Want To Kick Off Your Studies for DC-1? Need A Good Survey Course About DC Plans? Need A Good Refresher On DC Plans? NEED CEs? IT DOESN’T GET ANY BETTER THAN THIS!!! Attend in Person in Atlanta OR Live Stream (Not just a webcast, but a broadcast of speakers […]

As you may remember from a prior FlashPoint (see “DOL Delays Fiduciary Rules,” Flashpoint 4/5/17), the Department of Labor (DOL) delayed the applicability date of the new Fiduciary Rule (“Rule”) from April 10, 2017, to June 9, 2017. This delay was in response to a memorandum issued by President Trump, directing the DOL to do […]

As expected, the Department of Labor (DOL) has extended the applicability date of the new fiduciary/conflict of interest regulation from April 10 to June 9. The new rule also extends the applicability of the Best Interest Contract Exemption (BICE) interim applicability. What does this mean? First of all, for those of you who were struggling […]